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ManagePay targets more small business

ManagePay targets more small business
[ 10-06-2011 ]
ManagePay targets more small business

KUALA LUMPUR: ManagePay Systems Bhd, an electronic payment company, wants to double the monthly transaction value on its e-commerce plat form by marketing more aggressively to small busi nesses.

The platform, known as Malaysia Digital Enterprise Exchange (MDEX), is a web directory and business- to-business website which allows businesses to use e-requests for quotations, e-purchase orders, e-in voicing and e-payment functions on the portal.

The group will increase its marketing and promo tion activities and will participate in road shows alongside SME Corp to create awareness to small and medium size entrepreneurs (SMEs).

MDEX now does about RM1 million a month in transaction value with a total of 3,300 SMEs as its subscribers. Products uploaded by MDEX sub scribers have surpassed 21,600.

Established in July last year, MDEX is a national information and communication technology initi ative founded by Multimedia Development Corp (MDeC) and SME Corp, to help local SMEs market their products and services online.

"Our objective this year is to build a critical mass of MDEX subscriber base to 8,000 and increase trans action value to RM2 million per month by year end," said managing director and chief executive officer Chew Chee Seng.

"It is hoped that MDEX will be the platform of choice for Malaysian SMEs and in time, to evolve into a trusted e-commerce platform for foreign companies to conduct business with local SMEs," he said.

As MDEX subscriber, SMEs will enjoy improved cash flow as a result of more effective collection sup ported by the entire e-commerce eco-system.

"In some MDEX community programs where a fin ancial institution is part of the alliance, eligible SMEs stand to get access to new or increased un secured financing that can help to boost their work ing capital," he said.

Yesterday, the group gave a media briefing update on MDEX's progress in conjunction with Smidex 2011: SME Innovation Showcase in Kuala Lumpur Convention Centre.

Also present at the briefing were SME Corp chief executive officer (CEO) Datuk Hafsah Hashim and MDeC CEO Datuk Badlisham Ghazali.